Bed Bath & Beyond completes sale of Cost Plus World Market

Bed Bath & Beyond Inc. has completed the previously announced sale of its Cost Plus World Market chain to a private-equity firm, it announced Tuesday.

Financial terms of the deal with Kingswood Capital Management, based in Los Angeles, remained undisclosed. The deal represents the fifth, and final, noncore asset sale the Union-based retailer went through.

“The completion of this transaction marks the conclusion of our work to streamline our portfolio,” CEO and President Mark Tritton said in a prepared statement. “These efforts will help fund our transformation and put us in the position to start fiscal 2021 with a more cohesive set of core businesses.”

Bed Bath was advised on the transaction by B. Riley Securities Inc. and Bryan Cave Leighton Paisner LLP.